earnings
confidence high
sentiment positive
materiality 0.65
Crescent Energy Q3 net income $555M, Adj. EBITDAX $359M, declares $0.17 dividend
Crescent Energy Co
- Net income $555M; Adjusted Net Income $179M; production 150 MBoe/d (6% QoQ, 46% oil).
- Adjusted EBITDAX $359M, Unhedged Adj. EBITDAX $570M; Levered FCF $144M (+5% QoQ).
- Reaffirmed FY2022 production/capex/Adj. EBITDAX/LFCF guidance based on $100 WTI, $6/MMBtu.
- Declared Q3 cash dividend $0.17/share, payable Dec 7, record Nov 23; expects $0.17/sh for Q4.
- Entered agreement to sell non-core Permian assets for $80M; amended credit facility ($2.0B base, term to 2027).